Could it be that technology innovation is increasing at a rate faster than that of the human mind? We can all agree that there are constant innovations all the time when is comes to technologies. But can engineers and institutions that teach engineering keep up with these technology advances? A recent study released by the Manpower in Singapore has revealed that we are moving to a human age and illustrated the importance of technology advancement, especially in the realm of Social Media.
Although world demand is stemming from the emerging economies, we cannot deny that many emerging economies may not have the pre-conditions of institutions that will allow it to sustain economic growth and a sustainable one at that. In places such as Vietnam where economic agents are at risk of expropriation from authorities, it may not provide a conducive environment for businesses to start up. But this statement is inconsistent with reality as many companies have setup shop in emerging economies to fuel the demand that originates from there.
An important question is if the existing technologies that these firms require to sustain, can/may be used in emerging economies. And an even more important question; will local employment be able to learn or use these technologies and have been used over the past decade in developed nations?
The next progress to understand is that the internet and accessibility to this information highway will provide an avenue for employers to search for specific skills in the job market. Technology advances such as LinkedIn and FaceBook have allowed for a whole new category of networking. (Assuming that all the information uploaded by users are true) Employers and businesses are now able to source for employment internationally and find people to close their skills gap from all over the world. -Thus, what happens to a community with no access to such a ‘highway’? Is is than appropriate to assume that the skills gap is actually getting smaller? Let us paint a picture. perhaps a well versed LinkedIn user gets contacted by a company for a job and passes the interview, blah blah blah… however, there is in fact another candidate that is more appropriate for that role who does not have a LinkedIn account. Therefore, as companies continues its transition from a total abandonment of traditional recruiting and uses social media to source for talent, the companies’ limitations will be the very tool they helps them succeed; the internet. Their employment search will be limited to that of which the internet provides.
This undeniable point fuels the issue of technology advancing faster than people are able to attain skills for usage, especially in emerging economies. Many uneducated locals may not have the skills to use these platforms as much as the developed world. Thus, those who can will continue up the social-economic ladder and continue to bridge and network to grow their social capital, whilst the rest may get left behind. We have heard of the ‘poverty trap’ – This in itself is also could be a ‘trap’ -perhaps a ‘tech trap’, where those unable to afford accessibility to these devices and platforms fall back even more in society, bringing the Gini Coefficient up and increasing poverty altogether.